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Bank of America’s big bet on AI started small

CIO

Bank of America will invest $4 billion in AI and related technology innovations this year, but the financial services giants 7-year-old homemade AI agent, Erica, remains a key ROI generator , linchpin for customer and employee experience , and source of great pride today.

Banking 169
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Revolutionizing data management: Trends driving security, scalability, and governance in 2025

CIO

From data masking technologies that ensure unparalleled privacy to cloud-native innovations driving scalability, these trends highlight how enterprises can balance innovation with accountability. These solutions are preferred for healthcare, banking and telecom industries, where stringent privacy and security standards are non-negotiable.

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Six steps to creating a successful IT strategy: A guide for CIOs

CIO

This process includes establishing core principles such as agility, scalability, security, and customer centricity. For example, a company aiming for market expansion might focus on developing scalable infrastructure, enabling application localization, and enhancing security measures to support operations in new regions.

Strategy 200
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Synctera raises $33M Series A to pair fintechs with banks

TechCrunch

Synctera , which aims to serve as a matchmaker for community banks and fintechs, has raised $33 million in a Series A round of funding led by Fin VC. In a nutshell, San Francisco-based Synctera has developed a platform designed to help facilitate partnership banking. We hope to further diversify community banks’ revenue streams.”

Fintech 242
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How Apoidea Group enhances visual information extraction from banking documents with multimodal models using LLaMA-Factory on Amazon SageMaker HyperPod

AWS Machine Learning - AI

The banking industry has long struggled with the inefficiencies associated with repetitive processes such as information extraction, document review, and auditing. As a result, banks face operational challenges, including limited scalability, slow processing speeds, and high costs associated with staff training and turnover.

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Nigerian YC-backed startup Anchor comes out of stealth with $1M+ to scale its banking-as-a-service platform

TechCrunch

However, it differentiated itself by committing to payments on social media platforms, which Nigerian digital bank Carbon was interested in when it acquired the startup in 2019. As such, banking-as-a-service platforms see an opportunity to provide more personalized services and flexibility at less cost.

Banking 232
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Kenyan fintech Pezesha raises $11M backed by Women’s World Banking, Cardano parent IOG

TechCrunch

Founded in 2017 by Hilda Moraa , Pezesha has built a scalable digital lending infrastructure that allows both traditional and non-traditional finance institutions to offer working capital to MSMEs. Pezesha is tapping local and international banking institutions, HNWIs and DeFi for additional liquidity for onward lending.

Fintech 247